Argentina Pharmaceuticals Market By Drug Type (Generic, Branded drugs), By Product Type (Over-The-Counter Drugs, Prescription Drugs), By Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, and Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and E-Pharmacy), and By Region, Competition, Forecast and Opportunities, 2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationArgentina Pharmaceuticals Market By Drug Type (Generic, Branded drugs), By Product Type (Over-The-Counter Drugs, Prescription Drugs), By Application (Cardiovascular, Oncology, Metabolic Disorder, Musculoskeletal, Anti-infective, and Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and E-Pharmacy), and By Region, Competition, Forecast and Opportunities, 2028F
According to Statistics Argentina, as of 1994, the import was 6.9% of medicine. In 2020, the import of medicine reaches to 30%.
In 2019, the average spending of Argentina on healthcare was USD 946, which is 9.51% of GDP.
Increasing Demand for Healthcare
The rising population and increasing life expectancy in Argentina have led to a greater demand for healthcare services, including pharmaceuticals. As more people seek access to healthcare services, there is a corresponding increase in the demand for pharmaceuticals to support the provision of healthcare and it is expected to drive the Argentina pharmaceutical market.
As per data of 2018 the distribution of medicine Painkillers/Anti-inflammatories-59%, Antibiotics- 43%, Antiviral drugs-35%, Hypertension medicines-13%, Allergy medicine-11% Contraceptives-11%, Antacids-10%, Cholesterol medication-8%, Sleeping pills-7%, Sedatives-6%, Anxiolytics-3% Antidepressants-3%, Lexatives-2% and others were 7%.
In 2017, Argentina spent USD 1530 on healthcare a 32.61% increase from 2016 and 2017 spending is 10.44% of GDP.
The prevalence of chronic diseases such as diabetes, hypertension, and cancer are increasing, leading to a higher demand for pharmaceuticals to manage and treat these conditions The rising demand for healthcare services is a major driving force in Argentina's pharmaceutical market, and this trend is expected to continue in the future years.
Growing Middle Class Population Promises The Growth Of Market
In 2021, the average median household income (PPP) was USD 40,094. Argentina's median household income (PPP) will be USD 31,385 in 2021, up 3.1% from the previous year.
The growing middle class has spurred innovation in the pharmaceutical industry, with companies investing in research and development to develop new and improved drugs to meet the needs of its demographic. the Inter-American Development Bank (BID) recently said 54.5% of Argentine households belonged to the middle class, ranking second after Uruguay where the number was of 55.8%.
Increase In Aging Population
the present aging population of Argentina is 5,114,599 which is 11.02% of total population people above 64 years age out of which 2,107,649 males and 3,006,950 females in Argentina the rate of Aging population will increase from 11.4% to 17.3%.
The Inter-American Development Bank (IDB) authorized a USD150 million loan to assist Argentina in reducing the number of deaths caused by cardiovascular events and other chronic diseases, with a particular focus on persons without health insurance
Tumors and Cardiovascular disease caused 46% of death out of which 29% of people are above 70 years or younger.
Recent Development
In November 2020, Pfizer announced the acquisition of Laboratorios Phoenix, a leading pharmaceutical company in Argentina. The acquisition is expected to strengthen Pfizer's position in the Latin American Market.
In March 2021, Knight Therapeutics completed its acquisition of Biotoscana, a leading specialty pharmaceutical company in Latin America, including Argentina. The acquisition is expected to expand Knight's presence in the region and provide access to new products and markets.
In February 2021, Advent International acquired Zona Franca Córdoba, a leading pharmaceutical manufacturing company in Argentina. The acquisition is expected to help Advent expand its manufacturing capabilities in the region.
In August 2020, Dr. Reddy's Laboratories completed its acquisition of select businesses of Wockhardt, including its business in Argentina. The acquisition is expected to expand Dr. Reddy's presence in the Latin American market.
Market Segmentation
The Argentina pharmaceutical market can be segmented by drug type, product type, application, distribution channel, and region. Based on drug type, the market can be segmented into generic drugs and branded drugs. Based on product type, the market can be segmented into over-the-counter drugs and prescription drugs. Based on application, the market can be grouped into cardiovascular, oncology, metabolic disorder, musculoskeletal, anti-infective, and others. Based on distribution, the market can be grouped into retail pharmacy, hospital pharmacy, and e-pharmacy.
Market Players
Roemmers Inc, ELEA Phoenix S.A., Gador S.A, Casasco & Nardi SpA, Montpellier Holdings Ltd, BAGO Do Basil S.A, Baliarda S.A., and Novartis Pharma AG/Argentina are some of the leading players operating in the Argentina pharmaceutical market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2023 and 2024-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Drug Type Product Type Application Distribution Channel |
| Regional scope | Pampas, Litoral, Northwest, Sierras and Others (Cuyo, Patagonia, etc.) |
| Key companies profiled | Roemmers Inc, ELEA Phoenix S.A., Gador S.A, Casasco & Nardi SpA, Montpellier Holdings Ltd, BAGO Do Brasil S.A, Baliarda S.A., Novartis Pharma AG |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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